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20121003
Search Results 0 to 17 of about 18 (some duplicates have been removed)
and greece are doing is trying to cut the budget deficit with 25% unemployment, and doing it when bond yields are too high to be able to dip into the market, especially for greece. so these countries have been forced to do this by the markets, brooke, not by politicians. their hand has been forced and now they're telling their people on streets they have got to be the ones that suffer the most. ironically, of course, the u.s. treasury have benefitted from all the european upheaval. it made it easier for the u.s. not to make the tough choices at this moment. any country trying to cut the budget deficit, it is harder to do while that country is in recession. it actually makes the recession worse, which makes it -- it has to be more cuts in order to meet the deficit targets. it is nearly impossible to see how the countries can do that. >> so you point out, you negotiation unemployment rate 25% in spain, running down more numbers, 54% of greeks under age 25 are unemployed. are major spending cuts raising retirement age here to 67, will that work for spain and greece? >> well, over time it should
getting a handle on the deficit. also president obama has been hammering away at romney's tax plan arguing it will add to the deficit. romney has called for cutting all tax rates by 20%. he also wants to eliminate taxes on capital gains and dividends for families who make less than $200,000. there was an independent analysis done by the nonpartisan tax policy center and it did find that romney's plan would drop tax revenues by $5 trillion. but romney has promised he won't add to the deficit because he'll pay for any tax cuts by limiting deductions for taxpayers especially the wealthy. so this isn't really a major break from what he said before. he's just kind of shifting the emphasis, playing up a different part of his plan. >> so deductions. what deductions would mr. romney limit? >> now, that is the $5 trillion question. we tonigdon't know. he has hinted he may scale back the mortgage deduction for wealthy homeowners. think about how many tax deductions are out there. charitable giving, he state and local taxes. it won't be politically easy to scrap any of them because they're popular. s
. you need to take account of the fiscal deficit, which cannot go like that anymore, and the same thing with the external deficit, and that will require, of course, some adjustments, and nobody wants adjustments. people want miracles. in economics you don't have miracles. you just have good policy and hard work. >> are you encouraged by the policies that you are now seeing from both the europeans and the americans, or really do you sit here thinking more, more please? >> we're not impressed because i think that we have lost the last three years. since the crisis that started in 1988 -- 1998 and 1999, we knew we have not been able to tackle the real causes of the crisis. it has not been done in europe. it has not been done in the u.s. we are talking too much and doing too little. >> now, if this was any leader in latin america, perhaps people would ignore him, but this is the president that's running strong free market economies and policies, and that's why when somebody like this harvard ph.d. economist speaks, president as well, suzanne, people listen. of course, it reinforces what cou
the debt and the deficit, who would cut the deficit, and so we heard mitt romney saying earlier this morning that the national debt stands at $16 trillion. right now if president obama gets four more years, he predicted the national debt would skyrocket to $20 trillion. he is putting that message out there. i had a chance to talk to mitt romney about some of this yesterday and suzanne, he did not seem concerned about this. he came to talk to us on his campaign plane yesterday saying that the obama campaign is basically trying to strike the football on the 30 yard line, there's still plenty of time left, and there is some truth to that. rick santorum and some of the midwestern states for a brief period, and then he was able to close the gap. mitt romney is a good closer. it will be interesting to watch these polls as the days going g on as we get to the debates that are coming up. they'll be critical. >> i'll have to beef up on my sports analogies as well. thank you, jim. good to see you. >>> a reminder we'll be dipping to both president obama and mitt romney's events here in ohi
is firing back as in, hey, a humongous deficit is not patriotic. >> this is a land where economic freedom has allowed people to pursue their dreams and in doing so and achieving success, they lift us as a nation, they give us jobs, i will not apologize for success here and i will never apologize for america abroad. >> how's that for economic patriotism, whatever that is? so the talk back question for you this morning, is there such a thing as economic patriotism, facebook.com/carolcnn, your responses later this hour. >>> when we think of bounties in football now we think of the new orleans saints. saints' head coach, sean payton is on the golf course instead of the football field this season after the nfl suspended him for his role in bountygate. a former assistant of another team says his players were offered cash for big hits on opponents. these weren't nfl players. they were 10 year-olds. here's casey wian. >> reporter: the 2011 red cobra's pop warner football team went undefeated in the regular season. >> this was a team that knew it was on the verge of greatness and indeed went to th
, that jobs and prosperity will rain down on everybody, the deficit will magically disappear, we'll live happily ever after. but there's a problem with this. we just tried this. we tried it in the last decade before i was elected president. it didn't work then and it won't work now because top down economics doesn't work. we don't need to double down on the same trickle-down policies that got us into this mess in the first place. this country doesn't succeed when only the rich get richer. we succeed when the middle class gets bigger. when there are ladders of opportunity for all who strive to get into the middle class, when everybody willing to work hard has a chance to get ahead and live up to their god-given potential. i don't think we can get very far with leaders who write off half the nation as a bunch of victims who never take responsibility for their own lives. i travel around a lot in virginia and across this country. i don't meet a lot of victims. i see hard working virginians, students trying to work their way through college. i see single moms like my mom putting in over time
rallied from a major deficit to retain golf's prestigious ryder cup. cnn is live in medinah, illinois. shane, the u.s. team had a big lead going into the final day. what was the turning point for the europeans? >> reporter: i think that, deb, to be honest with you they were instilled with a faith, a belief, and the happy by their captain. he was a long time partner of seve. he was impressed on them his never say die attitude. he truly was a tat lis mattic figure in so many ryder cups. the americans led 10-6 and the europeans had never staged a comeback like this before in the history of the competition. there was a belief they could do it and they went out and won the first five matches. that whole belief filtered through to the rest of the team. it was a stunning success. the winning putt effectively coming on the 18th green by martin kaymer. he holed out for this crucial pair against stref stricker. it meant the europeans retained the cup. they had won 8 points out of 12 on the final day. in the final match tiger woods was up against the italian. they managed to eke out a half. it w
the deficit and cut entitlement spending like social security. but it is kind of sad, carol, it wasn't much excitement for either of them as far as helping the economy one way or the other. >> let's talk about something a little brighter that's happening where you are. the dow's rising. >> it is. this does actually begin the fourth quarter and it looks like stocks are beginning the fourth quarter with gains. stocks were already higher and then came out big sort of granddaddy of manufacturing reports. at least for september was back in expansion territory. and this is a big deal because manufacturing has shown contractions for the past three months in a row. so this surprise to the upside, putting investors in a good mood, enough of a mood to buy into the market today. >> i'm sure all of this will enter into the world of politics too. alison kosik, thanks so much. >>> now is your chance to talk back on one of the big stories of the day. will the presidential debate be game changers? forget about the talk about romney the amateur debater, chris christie says the debate will be a game changer
to reduce the deficit, to cut entitlement spending like social security, but once again, just not a lot of excitement for either person. which is kind of sad. >> let's talk about excitement on the dow. let's show the stocks because they have been rallying since this morning, what is it -- up 121 points now. got a pretty important report on the manufacturing sector. what do we need to know? >> so what we got was the granddaddy of manufacturing reports and what it showed is that manufacturing is back in expansion territory, the sector is growing again. that could help boost the economy. this is notable because it comes after three months of contraction in manufacturing. also, you look at china, manufacturing in china, in europe, it is going backwards it contracting. sobucking the trend. a good surprise for the u.s. manufacturing is what helped get us out of the recession in 2009. we saw activity picked up, hiring picked up. we saw the trend continuing. we want to see that continue to help the economy move forward. with a lot more momentum. >> we like it. we like the direction. alison kosi
Search Results 0 to 17 of about 18 (some duplicates have been removed)

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